Title
Ordinance Amending the FY 20-21 Community Development Block Grant (CDBG) Project Budget Ordinance in the Amount of $344
Body
Council Priority: Ensure Fiscal Stewardship, Transparency, & Accountability
Department: Neighborhood Development
Council District: All
Public Hearing: No
Advertising Date/By:
Contact 1 and Phone: Stan Wilson, 336-373-2509
Contact 2 and Phone: Cynthia Blue, 336-433-7376
PURPOSE:
City Council is requested to approve the amended appropriation of Community Development Block Grant (CDBG) funds awarded to the City of Greensboro from the U. S. Department of Housing and Urban Development (HUD) and to authorize the City Manager to execute grant documents.
BACKGROUND:
At the July 21, 2020 City Council meeting, Council approved the acceptance and application for the 2020-2021 HUD entitlement awards. The City of Greensboro was originally awarded CDBG funds, in the amount of $2,260,258, to address the housing and community development needs of low-to moderate-income households. Since issuing the original allocations, HUD discovered an error in the formula calculation for Community Planning and Development formula programs. The correction to the formula has resulted in a $344 decrease of the CDBG allocation, which revises the Greensboro CDBG award amount to $2,259,914. In addition to the awarded CDBG grant funds, the City estimates $150,000 in program income for a total of $2,409,914 for FY 20-21.
The budget ordinance to decrease the budgeted appropriation for the FY 20-21 CDBG is attached for approval.
BUDGET IMPACT:
The budgeted appropriation for the FY 20-21 CDBG, in the amount of $2,410,258, will be decreased by $344 to revise the funding to $2,409,914.
RECOMMENDATION / ACTION REQUESTED:
City Council is requested to approve the acceptance of the revised $2,259,914 grant award from HUD, authorize the City Manager to execute grant documents, and approve the revised FY 20-21 CDBG grant budget ordinance.